This research concerns the analysis of longitudinal data or more specifically, panel data on the well-being of the elderly. In particular it has the following aims: 1. The evaluation of factorial invariance over time in terms of the measurement specifications of well-being. 2. Descriptive analyses of the stability and change over time in various dimensions of well-being. 3. Causal interpretation of the observed stability and change in dimensions of well-being. The proposed research will be undertaken by using a structural equation modeling approach. Specifically, four measures of psychological well-being (i.e., the Philadelphia Geriatric Center Morale Scale, the Affect Balance Scale, Anomia, and psychiatric symptoms) and constructs such as self-reported physical health, social integration, and financial well-being will be examined. Data from four panel studies will be analyzed for this endeavor.